OpenTreasury

The economy, taxation, bankers looking at cryptocurrencies, and the war in Ukraine are all hot topics this week. Jason Campbell is stepping in as this week's host of the Open Treasury Podcast as we review the major stories and developments that were posted on CTMfile.com this week. Craig Jeffery and Jack Large also joined to share their thoughts.

Article links:

• Russia forced into historic default by sanctions
• Yellen still expects a global minimum corporate tax rate
• BNP Paribas interested in acquiring ABN Amro
• Rapidly growing neobanks now show signs of impending failure
• Cryptocurrency sector fears a chain reaction as Bitcoin drops below $20k
• BIS to urge CBDCs amid cryptocurrency uncertainties
• OCC continues interagency discussions on cryptocurrency

Pushpendra Mehta sits down with Craig Jeffery, Managing Partner of Strategic Treasurer, to discuss key insights from the twelfth topic and thirteenth article in a series on leading practices in corporate treasury published on CTMfile. This article and their discussion today cover leading practices for messaging networks.

Read the article: Leading practices part 12: Messaging networks

Pushpendra Mehta meets with Mike Richards, CEO of The Treasury Recruitment Company, and Craig Jeffery, Managing Partner of Strategic Treasurer, to review the latest treasury news and developments. Topics of discussion include US inflation rising to a 40-year high of 8.6 percent, the Bank of England hiking interest rates for the fifth time in a row to rein in inflation, DHL's warning that supply chain problems will run for longer than expected, Bitcoin tumbling to a new 18-month low as the crypto meltdown deepens, Binance freezing Bitcoin withdrawals, organizations maintaining a majority of their short-term investments in bank deposits, Bank of America expanding Virtual Account Management (VAM) to companies in the US, and account takeover attacks surging as BNPL rises.

• Inflation at 8.6%, more Fed rate hikes anticipated [US]
• Bank of England confirms fifth monthly base rate rise [UK]
• DHL warns of continuing supply chain challenges
• Bitcoin drops to an 18-month low, investors move away from riskier assets
• Bitcoin withdrawals suspended in volatile trading
• Bank deposits make up 55% of organizations' short-term investments
• BofA expands Virtual Account Management (VAM) to US Businesses
• Account takeover attacks intensifying as BNPL thrives, warns Imperva

Find more articles at CTMfile.com

Pushpendra Mehta meets with Craig Jeffery, Managing Partner of Strategic Treasurer, to review the latest treasury news and developments. Topics of discussion include the ECB confirming July rate hike plans and ending its bond-buying programme, Australia's central bank raising interest rates by the most in 22 years, Russia's Rostec announcing an alternative to SWIFT, US lawmakers unveiling sweeping crypto legislation, Apple foraying into the BNPL space, Nacha offering small volume ACH users an account verification option, and the growing menace of ransomware and resulting increases in cybercrime insurance claims.

Article links:

ECB stops bond purchases and plans rate hikes

Reserve Bank of Australia hikes interest rate again

Russia's Rostec "has devised SWIFT alternative"

US regulatory overhaul proposed for crypto

Apple bypasses banks to provide BNPL loans directly

New Nacha partnerships to enhance validation features for small volume ACH users

Cybercrime insurance claims rise as ransomware proliferates

Pushpendra Mehta and Craig Jeffery, Managing Partner of Strategic Treasurer discuss the idea that inefficiency and inaccuracy are the natural outcome of manual processes. Tools, including systems, software, techniques, models and methods, are consequential for an effective process-based management.

Read the article: Leading practices part 11: Process mindset

Pushpendra Mehta meets with Anthony Carfang, Managing Director of The Carfang Group, and Craig Jeffery, Managing Partner of Strategic Treasurer, to review the latest treasury news and developments. Topics of discussion include the EU broadening its sanctions against Russia to halt Eurobonds servicing, the US Federal Reserve embarking on quantitative tightening, Japan adopting a landmark stablecoin bill for investor protection, and the US Treasury giving a nod to AI innovation against money laundering.

• Widening sanctions disrupt Russia's Eurobond servicing
• Quantitative tightening era underway in US
• Japan passed the Stablecoin Act to protect investors
• US Treasury to drive AI Innovation to combat money laundering

Pushpendra Mehta meets with Craig Jeffery, Managing Partner of Strategic Treasurer, to review the latest treasury news and developments. Topics of discussion include multiple areas: China's reopening to ease supply chain woes, globalization and complex supply chain challenges, Germany confirming cryptocurrencies to remain tax free if held for more than a year, the ECB warning that crypto markets show signs of an emerging financial stability risk, Citigroup weighing a deal to buy Deutsche Bank's Mexican bank, the US Federal Reserve delaying ISO 20022 implementation until 2025, Deutsche Bank collaborating with FinLync to provide instant access to real-time treasury for corporates, Ripple considering IPO after SEC suit wraps up, and Bank of England advocating for banks to take climate action immediately or face slashed profits.

Article links:

• Supply chain hopes as Shanghai reopens
• Deglobalization or evolving globalization? Corporations' conundrum
• Germany, Europe's largest economy, to facilitate easier crypto investments
• ECB cautions that crypto markets may pose risks to overall economic stability
• Citi "mulls Deutsche Bank Mexico purchase"
• Fed puts back ISO 20022 implementation for Fedwire to 2025
• Road to automated, real-time treasury for corporates via Deutsche Bank and FinLync
• Ripple CEO says IPO again under consideration
• Bank of England urges banks to take action on climate change now or face slumps in earnings

Pushpendra Mehta sits down with Craig Jeffery, Managing Partner of Strategic Treasurer, to discuss key insights from the tenth topic and eleventh article in a series on leading practices in corporate treasury published on CTMfile. This article and their discussion today cover compliance.

Read the article here: Leading practices part 10: Compliance

Pushpendra Mehta meets with Craig Jeffery, Managing Partner of Strategic Treasurer, to review the latest treasury news and developments. Topics of discussion include the EU tabling a €300bn plan to stop using Russian gas, UniCredit and Commerzbank abandoning merger talks due to the Ukraine war, South Africa looking at introducing digital rand, Commonwealth Bank of Australia pausing crypto trading amid regulatory uncertainty, and Mastercard launching its Biometric Checkout Program that allows customers to pay by smiling or waving their hands at checkout.

Article links:

• EU produces €300bn plan to escape Russian gas
• Ukraine invasion "derailed UniCredit-Commerzbank tie-up"
• South Africa warming to digital rand
• Commonwealth Bank of Australia puts crypto trading process on hold while regulators hesitate
• Smile at checkout! Mastercard launches biometric facial recognition to retailers

Pushpendra Mehta meets with Craig Jeffery, Managing Partner of Strategic Treasurer, to review the latest treasury news and developments. Topics of discussion include the Bank of Canada turning to interest rate guidance to battle inflation, McDonald's leaving Russia altogether, Citi, BNY Mellon and Wells Fargo investing in crypto firm Talos, the de-pegging of stablecoin TerraUSD (UST) sparking contagion fears, U.S. Bank teaming up with LiquidX to speed up supply chain financing, the AFP expanding to the Middle East and Africa, and Kyriba and Strategic Treasurer working together to produce the 2022 Non-Banking Financial Institutions (NBFI) Survey Report.

Bank of Canada looks to interest rate guidance to combat inflation

• https://ctmfile.com/story/interest-rate-guidance-to-combat-inflation-industry-roundup-11-may

McDonald's makes its Russia exit permanent

https://ctmfile.com/story/mcdonalds-makes-its-russia-exit-final-industry-roundup-seventeenth-may

Citi, BNY Mellon, Wells Fargo to jointly invest US $105M in digital asset infrastructure Talos amid volatility

• https://ctmfile.com/story/these-three-banks-jointly-invest-us-105m-in-digital-asset-infrastructure-industry-roundup-13-may

Stablecoin TerraUSD's de-pegging sparks alarm

• https://ctmfile.com/story/terrausds-fall-shakes-confidence-in-stablecoins-industry-roundup-1twelfth-may

Working capital solution to simplify and accelerate supply chain financing via US Bank and LiquidX alliance

• https://ctmfile.com/story/these-three-banks-jointly-invest-us-105m-in-digital-asset-infrastructure-industry-roundup-13-may

AFP expands to the Middle East and Africa

• https://ctmfile.com/story/terrausds-fall-shakes-confidence-in-stablecoins-industry-roundup-1twelfth-may

Survey shows NBFIs' top three focus areas: security, compliance and efficiency

https://ctmfile.com/story/survey-shows-nbfis-top-three-focus-areas-security-compliance-and-efficiency